W Holding Company, Inc. (the “Company”) today is updating the market on the status of the process of restating its financial statements for the year ended December 31, 2006 and for the quarters ended September 30, 2006 and March 31, 2007, and for becoming current on its other periodic filing obligations. Although the Company had previously indicated its intent to file the restated and delinquent reports over a three month period commencing shortly, the Company has instead determined that to be more efficient and effective, it will file all of its restated and delinquent reports at approximately the same time. As previously reported, while the Company is working expeditiously to conclude the restatement, at this time it is unable to predict when it will complete the restatement and begin filing its amended and delinquent periodic reports.